Subject:
Title
Adopt Resolution and Release Performance Bond: Crossmolina - Village 2, Neighborhood 7, Phase 2 - District 4
Developer: The Viera Company
End
Fiscal Impact:
None
Dept/Office:
Public Works/Engineering
Requested Action:
Recommendation
In accordance with Section 62-2844(b), it is requested that the Board of County Commissioners adopt the attached Resolution and authorize the Chair to sign the Resolution releasing the Contract and Surety Performance Bond dated October 22, 2024, for Crossmolina - Village 2, Neighborhood 7, Phase 2.
End
Summary Explanation and Background:
Crossmolina - Village 2, Neighborhood 7, Phase 2 is located on the west side of Pineda Boulevard and the north side of Ginkgo Drive. The public rights-of-way within this plat are the southern portion and terminus of Crossmolina Drive, Connemara Drive, and Aragorn Lane. The subdivision contains 104 single family attached residential lots on 30.6 acres.
The Crossmolina - Village 2, Neighborhood 7, Phase 2 subdivision received preliminary plat and final engineering plans on February 28, 2024, and final plat and contract approval on October 22, 2024. The developer posted a Surety Performance Bond for guarantee of the completion of the infrastructure improvements according to the approved plans.
Per Section 62-2809(b)(2), "Construction after final plat recordation: ...the applicant shall provide security required in Section 62-2844 for the performance of such construction..." Section 62-2844(a) states: "An applicant shall be required to secure its performance security of the construction required under this article by a surety bond, letter of credit, savings account, certificate of deposit or execution of a tri-party escrow agreement. Such security shall not be required if a certificate of completion has been issued for all the subdivision improvements prior to final plat recordation." Because the applicant chose to plat the subdivision prior to completion of construction, the...
Click here for full text